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Hilton to Quadruple Caribbean, Latin America PortfolioSeptember 30, 2008 By: Joe Pike
Hilton Hotels Corporation announced major expansion plans Tuesday to quadruple its presence in the Caribbean and Latin America by adding 150 new hotels to the portfolio over the next five years, according to a written release. Hilton Hotels Corporation currently has 42 properties in the Caribbean and Latin America development pipeline and has identified a number of strategic markets in gateway cities and resort destinations for further growth of selected Hilton Family brands.
With an existing portfolio of 51 hotels throughout the Caribbean and Latin America, this expansion will bring the company’s total presence in the regions to more than 200 properties. The Caribbean development efforts will be lead by Gregory Rockett, vice president, development, Caribbean and Southeast U.S. The company currently has 13 hotels in the region and anticipates bringing an additional 17 hotels to the Caribbean over the next five years.
The goal of Hilton’s development efforts in the Caribbean will be to add focused-service hotels, such as Hilton Garden Inn and Hampton Inn, to commercial centers such as San Juan, Trinidad, and Nassau. Another area of growth will be developing luxury branded hotels and residences in high-end mixed-use developments in markets such as Turks and Caicos, the Lesser Antilles, and the Bahamas.